The goal of the human economy is to gain greater control over the means of satisfying human needs. We start with the most immediate needs, but thanks to saving and investment, we can move onward and upward from there.
With such a messed-up economy, why is it still hard to spot a bust on the horizon?
Menger's contribution is famous beyond Austrian economics, because it was one of the fundamental works of the subjective value theory and of marginal analysis.
We may be told price controls are a temporary necessity, as in 1971 under Nixon. But one thing is certain: price controls will do nothing to resolve the issues underlying the inflation.
The Canadian government promises to make healthcare available to all. Yet Canadians are forced to endure long and deadly wait times for treatment. And it's getting worse.
There is no greater threat to the prevailing progressive ideology that dominates both Washington and Silicon Valley than the ideas celebrated at Mises University. Please consider making a donation today.
All societies require some sort of coercion to maintain order. But "the state" is a very specific and modern type of government institution which claims it can engage in criminal types of coercion with impunity.
The Unbroken Thread is an interesting yet ultimately disappointing attack on liberalism. It is mostly a collection of many opinions, with very little in the way of facts or analysis.
The Fed says it "provides the nation with a safe, flexible and stable monetary and financial system." Can we all breathe easier now?
If the US wants to strengthen its economic and geostrategic position versus China, it needs to apply the same free market principles that made it prosperous and powerful in the first place.
